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Exact Sciences Corp EXAS

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Morningstar’s Analysis

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Exact Ends Eventful Year With Cancer Treatment Growth Offsetting Softer Screening, Shares Overpriced

Aaron Degagne Equity Analyst

Analyst Note

| Aaron Degagne |

Exact Sciences had a good finish to the year, with reported sales in line with our expectations driven by a strong fourth-quarter result in the high-growth precision oncology business. We are maintaining our no-moat rating and $76 fair value estimate, and we still view shares as significantly overvalued.

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Company Profile

Business Description

Exact Sciences Corporation, headquartered in Madison, Wisconsin, provides cancer screening and diagnostic test products in the United States and internationally. Exact’s Cologuard screening test, a non-invasive stool-based DNA test, is a pre-cancer screening test for colorectal cancer. The company also competes in the precision oncology market with Oncotype DX, a genetic-based treatment selection test for breast, prostate, and colon cancers. With the acquisitions of Base Genomics and Thrive Earlier Detection, Exact is building a multi-cancer early screening test to detect over 14 cancers, a test that would be one of earliest entrants in liquid biopsy (blood-based) cancer screening.

441 Charmany Drive
Madison, WI, 53719
T +1 608 284-5700
Sector Healthcare
Industry Diagnostics & Research
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2020
Stock Type Speculative Growth
Employees 5,000